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WalletHub: New Jersey is 2023’s 10th state with the most student debt

New Jersey – New Jersey is 2023’s 10th state with the most student debt, according to a study done by WalletHub.

With the average student loan debt reaching over $37,000 per borrower, the personal-finance website WalletHub today released its report on 2023’s States with the Most and Least Student Debt.

To determine the states that are friendliest toward student-loan debtors, WalletHub compared the 50 states and the District of Columbia across 12 key metrics. The data set ranges from average student debt to unemployment rate among the population aged 25 to 34 to share of students with past-due loan balances.

Student Debt in New Jersey (1=Most; 25=Avg.):

  • 6th – Avg. Student Debt
  • 8th – Proportion of Students with Debt
  • 23rd – Unemployment Rate of Population Aged 25 to 34
  • 10th – % of Student Loans Past Due or in Default
  • 12th – Availability of Student Jobs
  • 23rd – Availability of Paid Internships

Source: WalletHub

Here are the top 5 states with the most student debt:

  1. Pennsylvania
  2. Delaware
  3. Mississippi
  4. West Virginia
  5. South Dakota
Here are the top 5 states with the least student debt:
  1. Utah
  2. Hawaii
  3. New Mexico
  4. Wyoming
  5. California

For the full report, click here.

Jay Edwards

Born and raised in Northwest NJ, Jay has a degree in Communications and has had a life-long interest in local radio and various styles of music. Jay has held numerous jobs over the years such as stunt car driver, bartender, voice-over artist, traffic reporter (award winning), NY Yankee maintenance crewmember and peanut farm worker. His hobbies include mountain climbing, snowmobiling, cooking, performing stand-up comedy and he is an avid squirrel watcher. Jay has been a guest on America’s Morning Headquarters,program on The Weather Channel, and was interviewed by Sam Champion.

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